Every business has a multitude of IT suppliers / vendors providing services, regardless of whether you are extensively outsourced or not.

 

Organisations increasingly recognise the need to have these vendors collectively and formally managed, in order to control contracts, commercials and ensure that service obligations are being met. 

 

Without strong vendor management, the suppliers are in the driving seat in terms of annual cost increases, reluctance to meet your requirements, unrealistic rate cards plus potential creation of contract novation and exit difficulties etc.

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Larger organisations have a number of vendor managers.  Unfortunately,  they do not always work as a cohesive unit. 

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Did you know that there is a minimum of 25 standard vendor management processes that you should have in place.  These processes form the foundation of a Vendor Management Office, ensuring that standard ways of working are defined and used by the whole team.

 

Such processes cover circa 60% of a vendor managers workload and 40% of their workload will be tailored to particular contracts and vendor relationships.